This article was originally published on TipRanks.com
InMode Ltd. (INMD) has provided the outlook for 2022 and announced preliminary results for the fourth quarter and full-year 2021. Shares of the medical technology company rose 5.1% in Wednesday’s early trading session.
The company is scheduled to report its upcoming earnings before the market opens on February 10, 2022.
Preliminary Results & Outlook
InMode has announced preliminary fourth-quarter revenues in the range of $109.5 million to $110 million and adjusted earnings between $0.61 and $0.62.
For full-year 2021, the company has reported preliminary revenues in the range of $356.5 million to $357 million, above the prior guidance range of $343 million to $347 million. Adjusted earnings in 2021 are expected to be between $2.02 to $2.03.
Notably, InMode expects to generate revenues in the range of $415 million to $425 million in 2022.
The CEO of InMode, Moshe Mizrahy, said, “Our record results in the fourth quarter and in 2021 reflect the growing global demand for our products. We are especially encouraged by the consistently increased sales of consumables. This is the best indication that demand for our procedures keeps growing.”
Consensus among analysts is a Strong Buy based on 5 unanimous Buys. The average InMode price target stands at $94.40 and implies upside potential of 71.8% to current levels. Shares of the company have gained 99% over the past year.
Positive News Sentiments
News Sentiment for InMode is Neutral based on 6 articles over the past seven days. All articles have Bullish sentiment, compared to a sector average of 59%, and none have Bearish sentiment, compared to a sector average of 41%.
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